The Project Life Cycle

12 January 2011

A project life cycle is all encompassing set of events that involves the entire process of creating, planning, producing and selling of a deliverable to the target audience for the manufacturing sector. While each one is different, they all have the same type of general process that is required to make it a success.

The start of a project life cycle is when an idea is spawned in the mind of someone. It is the actual documentation of this idea that is considered the first step of the life cycle. Before this idea can even be thought about being approved, a target audience must be identified and interviewed to see if the deliverable is even a viable revenue source for the company. With the results from this feasibility study and the scope and goals of the actual deliverable documented in a business case, approval can then be attempted.

The approval process in a project life cycle is where the upper management and any stakeholders of the project will review all of the documentation that is presented. The availability of equipment, raw materials and manpower are some of the considerations that will be judged in this process. Other considerations will be how profitable the project might be along with any possible risks that will have to be dealt with in the production of the deliverable.

If the business case is approved then the second phase of the project life cycle can begin. This is where the foundation of the project will be established. Every single process and procedure has to be decided on and then documented before any thought about building the deliverable can begin.

Once the documentation of how the deliverable will be transformed from an idea to a physical entity, the project life cycle can move on to the execution phase. This is where all of the planning is implemented in the correct order along with the plans to prevent or reduce the number and size of the obstacles.

The end of a project life cycle is when a deliverable has been successful made and is ready for sale. This does not always mean the project itself is a success if the allotted time or budget has been exceeded. In most cases a positive revenue stream is the ending result.